Gold Loan Interest Rates: Gold as an asset class has been used by Indians for centuries for preparing for eventualities. However, selling gold jewellery to meet financial needs does not come easily to us. That said, gold loans are the perfect way to capitalise unused gold jewellery for immediate funding for a variety of needs.
The conventional loans offered by banks and other financial institutions are quite time- consuming and the process is long. Gold loans from Muthoot Finance can be availed with minimum documentation and assure quick disbursals It offers the best gold loan interest rates on its various gold loan schemes. Its interest rate on gold loans is among the lowest and this attractive gold loan interest rate helps customers to fulfil short-term financial obligations.
Gold Loan Interest Rates
Muthoot Finance offers its customers a wide portfolio of gold loans with different interest rates. Any kind of loan i composed of two components: principal and interest. Similarly, a gold loan is considered fully repaid only when both the components have been paid off, ie, the principal and the gold loan interest. Thus, while availing of a gold loan too, you must opt for a lender that offers gold loans with the lowest interest rate.
This decision is important so that you don’t end up paying surplus money to service the gold loan interest. Gold loans offered by Muthoot Finance aren’t only quite convenient to avail but also offer the lowest interest rates on gold loans. When a comparison is made between the gold loan interest rate of all banks with Muthoot Finance, their interest rates on gold loans are the most attractive.
Interest Rates On Different Gold Loans
Once you have decided to take out a gold loan, you should be clear about your financia requirement, the tenure you are willing to serve, and the gold loan interest you are comfortable with. Depending upon all these factors, you can choose from the several gold loan schemes with different gold loan interest rates offered by Muthoot Finance.
In addition to a variety of gold loan options and low gold loan interest rates, Muthoot Finance also offers attractive rebates on EMI schemes and repayments. For instance, rebates are offered on monthly and quarterly gold loan interest payments.
Calculation Of Gold Loan Interest Rate
For the ease of its customers, Muthoot Finance has many tools to help navigate the process of availing a gold loan. One of them is the online Gold EMI Calculator. Customers interested in a gold loan from Muthoot Finance can simply go to their website and by using the online Gold Loan Calculator, they can get their loan eligibility.
All you are required to do is enter details such as name, email-id, contact number, gold type, the amount you require, and few other details. It should be noted that the online loan eligibility is an approximate value and the exact loan eligibility is calculated after an in-house gold evaluation at the branch.
After a customer knows his/her loan eligibility, he/she can use the online Gold Loan EMI Calculator to calculate EMI as well. Again, the online EMI value is an approximate value that depends upon the interest rate of the gold loan scheme and the tenure you have chosen. Customers will be delighted to know that when compared to the gold loan interest rate offered by all banks, Muthoot Finance’s gold interest rate in India is among the lowest.
The best gold loan interest rates and exceptional customer service have made Muthoot Finance’s loan against gold interest rate a deciding factor for its customers. To sum it up, the interest rate of the gold loan depends upon the type of loan scheme availed and its tenure. And this knowledge of gold loan interest is crucial because it directly affects the EMI of your loan. Thus, a low interest gold loan can reduce your repayment costs to a great extent.
Additional Charges
Interest on the gold loan isn’t the only thing that has to be serviced by the customer. There are additional charges that have to be borne by the customer and are listed on their website. Apart from offering among the lowest gold loan interest rates among its contemporaries, Muthoot Finance’s service charges are also quite nominal. Thus, with the best gold loan interest rates coupled with a customer-centric focus, Muthoot Finance offers gold loan interest rates that are quite attractive.
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The success and popularity of Muthoot Finance are built on a solid foundation of trust, transparency, and keeping customers first. We continuously come up with customer- friendly initiatives and tools for their patrons to make an informed decision. It is not only about offering the lowest gold loan interest rates but also being transparent in our dealings. All information regarding the interest rates on their gold loans, loan eligibility and EMI calculator tools, FAQs as well as the schedule of charges are available on our website.
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